15 January 2025
The Geneva Association
The global economy is shifting from integration to fragmentation as nations prioritise security over efficiency.
A new research report by the Geneva Association, Insurance in a Fragmented World Economy, explores the implications of reduced globalisation, or ‘slowbalisation’, for re/insurers and strategies for companies to adapt to evolving risks.
The report highlights the disruptive potential of geoeconomic fragmentation on global risk management: it weakens multilateral collaboration on global risks such as climate change; narrows opportunities for risk diversification in both underwriting and investments; and creates operational hurdles from divergent regulations. The report also identifies growth opportunities for re/insurers in areas such as political risk and renewable energy insurance.
The Geneva Association’s report lays out three potential scenarios – mild, moderate and extreme geoeconomic fragmentation – and presents strategies for insurers to strategically respond to each one.
Jad Ariss, Managing Director of the Geneva Association, said:…
